The original blog post is written by Hemant Parikh and can be found here.
RBI’s policy outcome, corporate earnings and macroeconomic data to dictate trend.
Next batch of Q1 June 2016 corporate results, progress of monsoon rains, macroeconomic data, trends in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate market trend in the near term.
The major domestic event in the upcoming week is the Reserve Bank of India’s (RBI) third bi-monthly monetary policy meeting scheduled on Tuesday, 9 August 2016. The central bank had left its benchmark repo rate unchanged at 6.5% at its last meeting.
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The market ended with heavy losses. The Nifty ended below 7850, down 33.70 points or 0.4 percent. The Sensex is down 97.82 points or 0.4 percent at 25301.90. About 871 shares advanced, 1679 shares declined, and 197 shares are unchanged.
ITC gained 1 percent after posting better-than-expected Q4 results. Adani Ports, ONGC, NTPC and Bajaj Autowere top gainers in the Sensex. Losers were Lupin (down 9 percent), ICICI Bank, Reliance, M&M and Tata Motors.
After the political results of 5 states yesterday, there was a glimmer of hope of seeing the GST bill through but we can only hope things fall in place soon.
Here are some picks from the week gone by:
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So far we have informed our readers on how StockArchitect brings to you the views of analysts. Not only do we bring to you the views of analysts, we also capture and bring to you the views of top anchors. In short, we have readied for your reference the views of the people who matter. After all, our mission is to help you make informed decisions.
Here are the views of some of the people from the week that went by.
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Another week ends and we are nearing the financial year end. We at StockArchitect hope that all of you have made a lot of money during this financial year. Our motto is to help investors take an informed decision based on the collective views of others.
Here are some picks we pulled out from the week gone by.
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